These substitutes are non-fat substances possessing functions and features as regular fat. It has no health hazards, contains fewer calories than natural fat and tastes exactly like it. It is largely used in gravies, dressings, sauces, margarine, yoghurt, cheese, and baked goods. The substitutes are prepared by the fat molecules that are transformed, so only some part of the molecules is absorbed in the intestines. These substitutes chemically resemble fats, carbohydrate-protein, or the combination of all these.
The growing prevalence of obesity cases all around the globe, along with the growing awareness among people regarding the side effects of excessive consumption of fat, is likely to steer the growth of the global oil and fat substitutes market significantly during the forecast period. The inclusion of oil and fat substitutes in foodstuff not only reduces the amount of fat intake but also maintains the food originality characteristic without the associated potential threats of excessive fat consumption.
The food and beverage sector is proliferating at an unprecedented rate globally. In addition, the increasing consumer disposable income, surging population, and economic improvements are further complementing the market growth. These substitutes are also largely used for extrusion filling, coating, and moulding purposes in the confectionery sector. These ingredients offer several exceptional properties like temperature resistance, bloom resistance, gloss retention, and several others. All these factors are expected to spur the global market growth.
The global oil and fat substitutes market can be segmented into sources, applications, types, and regions.
By type, the market can be segmented into liquid-based, protein-based, and carbohydrate-based products.
By applications, the market can be segmented into dressings & spreads, sauces, convenience food & beverages, dairy & frozen desserts, bakery & confectionery products, and others.
By sources, the market can be segmented into animals and plants.
North America accounts for the largest share in the global oil and fat substitutes market due to the growing demand for fat substitutes, particularly from the confectionery and baking sector. In addition, the growing obesity incidences in the region are likely to accentuate the growth of the regional market manifolds during the forecast period.
Asia Pacific is also likely to foresee a significant growth rate over the forecast period due to the growing disposable income of the people in the region.
Some of the significant players in the global oil and fat substitutes market are Fiberstar, Inc., Corbion, Tate & Lyle, CP Kelco, Ashland Inc., Koninklijke DSM, Ingredion, Dupont, FMC Corporation, Kerry Group, ADM, and Cargill. To cite, J. RETTENMAIER & SÖHNE Group in 2020, launched its broad portfolio of Vivapur meat alternative fibers, including oil & fat substitutes, developed to offer ease of use in a cold production system.
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